The Latvian Gambit is an aggressive chess opening in which Black gives up a pawn early on in the hope of gaining the initiative. It was formerly known as the Greco Counter Gambit until the new name was made official by the FIDE Congress of 1937. The new name was a tribute to the Latvian players, notably Karlis Betins, who analyzed it in the early part of the 20th century. The original name commemorated the Italian player Gioacchino Greco (1600-1634). This opening is rarely played in major tournaments.